14.1 C
New Delhi
Friday, November 22, 2024

Vegetarian thali prices dip in February, non-veg thali costs rise: Crisil Report

Published:

Home-cooked vegetarian meals saw a decrease in price in February, while the cost of non-vegetarian thalis went up during the month, as per the latest Crisil report.

The price of a vegetarian thali declined by 2% to INR 27.5 in February compared with the previous month, due to a 14% decrease in onion prices and a 3% decrease in potato prices. The prices of tomatoes and pulses, two other significant components, remained unchanged during this period.

Non-veg thali prices surged to INR 54 in February, up from INR 52 in the previous month.

“The cost of the non-veg thali rose as prices of broilers, which account for ~50% of the cost, increased an estimated 10% on-month due to lower supply amid the spread of bird flu in Andhra Pradesh and increasing temperatures, as well as rising demand ahead of Ramadan,” Crisil noted.

Continue Exploring: Home-cooked meals get cheaper by 3-5% as onion, tomato, and poultry prices decline in December: CRISIL Report

Nevertheless, in comparison to the previous year, thali prices remained elevated, suggesting that consumer inflation is unlikely to decline in February.

The price of a vegetarian thali increased by 7% compared to the previous year, driven by a 29% rise in onion prices and a 38% increase in tomato prices.

Uneven rainfall has adversely impacted onion production. The latest horticulture estimates for 2023-24, released by the government earlier this week, indicate a decrease in crop production.

Onion production is expected to decrease to 25.47 million tonnes, down from approximately 30.21 million tonnes in 2022-23.

“Prices of rice (accounting for 12% of the veg thali cost) and pulses (9%) also increased 14% and 20% on-year, respectively,” Crisil noted.

Non-veg thali cost, on the other hand, is 9% lower compared to the previous year, as broiler prices have eased from the peaks witnessed in 2023.

Experts indicate that inflation print is likely to be higher at than 5.1% in January, owing to a modest increase in food prices in February.

“On a sequential basis, the increase in food CPI was driven by cereals, fruits and meat, which was partly offset by a drop in prices for eggs, pulses and spices,” said Rahul Bajoria, MD & Head of EM Asia (ex-China) Economics, Barclays.

Barclays anticipates that inflation will increase to 5.3% in February.

Continue Exploring: Vegetarian thali gets costlier by 5%, non-veg thali witnesses 13% price decrease: Crisil Report

SnackTeam
SnackTeamhttps://snackfax.com
SnackTeam is a specialised group of editorial staff motivated to improve the lives of individuals and society. The team intends to bring the most authentic, well-researched and dependable content for you and your loved ones every day.
Subscribe to our Newsletter!

Stay updated on the latest news, trends, and top startups with Snackfax's daily newsletter!

Related articles

Recent articles

× Drop a, Hi?